Cohen & Steers Inc., a New York-based equity portfolio manager that specializes in the stocks of real estate investment trusts and utilities, has priced an initial public offering of 7.5 million shares of common stock at $13 per share.The company said it would use the net proceeds of the offering to expand its investment capabilities, launch new products, and expand distribution, as well as for general corporate purposes. Merrill Lynch & Co. is the book-running manager of the offering. The underwriters have been granted an option to buy up to 1.125 million additional shares to cover any overallotments. Cohen & Steers can be found on the Web at http://www.cohenandsteers.com.
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According to the Federal Reserve Board's latest financial stability report, persistent inflation and policy uncertainty are the primary worries for banks. Survey respondents expressed heightened anxiety over murky policy outlooks due to geopolitical turmoil and rapidly approaching domestic elections.
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Leaders of ORNL Federal Credit Union are piloting Zest AI's new artificial intelligence-powered assistant to ensure equitable underwriting practices and measure performance against similar institutions.
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The mortgage subsidiary of Hilltop Holdings posted another quarterly loss and volume slipped, but management also sees signs of optimism.
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The increasing frequency and severity of droughts was top of mind for panelists at AmeriCatalyst's "Going to Extremes" conference Thursday.
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